Just to add something I would call the bank and see if they can do a courtesy removal of the negative mark they put on your credit report. If the negative mark is over 2 years old it is not hurting your credit anymore even though it still shows up.
You are forgeting closing costs, which run about 3-4% of the purchase price. You can possibly get the sellers to pay for those but in a seller's market such as the one most of the country is in you will be hard pressed to get sellers to pay for them. Wayne is right there are a lot of costs to being a homeowner and if you don't want to find yourself defaulting on your loan you should make sure you have a nice cushion to fall back on before purchasing.
Sure I think so. It doesn't cost anything and they could provide valuable advice to you. I usually don't like when clients ask for a commission reduction because that is how we make our living, but if you are just taking an agent along with you to buy then he should split his commission with you because he didn't really "earn it". That's what I would do anyways.So yes it is wise to bring an agent to keep the new home builder honest and you could possibly make half the realtors commission. P.S.You have to be accompanied by your realtor on your first visit to the model homes or your agent won't get compensated (and thus you won't either).
I believe it takes at least one cycle (30 days) for your credit score to change. Most lenders are able to do a rapid rescore that takes only a few days to change your credit score. Contact a lender and they will be able to answer all of your questions in a 15 minute phone conversation.
Most of the time it is a buyer's agent. Ask them if the listing is theirs. If it is I would suggest finding another agent.
620 is usually the minimum credit score for an FHA loan, which require only 3.5% down. It all depends on how much you make and how much debt you have though among other factors. Contact a lender. A ten minute phone call and you will have all the answers you need.
Price will sell the home. But then again, who sets the price? The real estate agent. Might as well have asked if the chicken or the egg came first :)
You can put 5 appraisers in one room and get 7 different values (sorry Vince). That's just the nature of working with error prone humans. It is an opinion of value after all. But Vince is right, get a market analysis done by a local realtor who specializes in apartments.
Contact a local agent. Any one of them would be happy to help you determine your homes worth in hopes of earning your business when you are ready to sell.
I still scratch my head as to why people choose to sell their own home when statisctics prove that they get at least 10% less than what a real estate agent could have sold their home for. FSBOs lack the marketing, negotiating and contract expertise that a full time real estate agent has. Plus they have to do all the work themselves and expose themselves to any liability that may result from the sale. Agents have e/o insurance. It costs a lot of money (and time) to be cheap! Just because you can do something doesn't mean it's a good idea to. That's my opinion anyways.